Abstract

An electricity supply smart contract was developed and
demonstrated to perform pre-time-of-use price
negotiation between demand and generation and posttime-
of-use settlement and payment. The smart contract
was demonstrated with 1000 loads/generators with
usages simulated using lognormal probability
distributions. It combines payment of deposit, negotiation
of price based on estimates, settlement based on actual
usage and enactment of payments using crypto-currency.
The settlement procedure rewards customers that
adjusted to balance the system. The smart contract was
written in the Solidity programming language and
implemented with a simulated Ethereum blockchain using
testrpc and go-ethereum. In the example test case, a price
was agreed, settled and payment enacted.